Alternate Currency Loans Sample Clauses
The Alternate Currency Loans clause allows borrowers and lenders to agree that a loan may be drawn, repaid, or outstanding in a currency other than the primary currency specified in the agreement. This clause typically outlines the process for selecting an alternate currency, any conditions or limitations on such selection, and how currency conversions and exchange rates will be handled. Its core practical function is to provide flexibility in international financing arrangements, enabling parties to manage currency risk and meet specific business needs related to cross-border transactions.
Alternate Currency Loans. (i) Subject to the terms and conditions of this Agreement and the applicable Alternate Currency Addendum, from and including the later of the date of this Agreement and the date of execution of the applicable Alternate Currency Addendum and prior to the Facility Termination Date (unless an earlier termination date shall be specified in the applicable Alternate Currency Addendum), the Administrative Agent and the applicable Alternate Currency Lenders agree, on the terms and conditions set forth in this Agreement and in the applicable Alternate Currency Addendum, to make Alternate Currency Loans under such Alternate Currency Addendum to the applicable Borrower party to such Alternate Currency Addendum from time to time in the applicable Alternate Currency, in an amount not to exceed each such Alternate Currency Lender’s applicable Alternate Currency Commitment; provided, however, (i) at no time shall the outstanding principal amount of all Alternate Currency Loans exceed the Alternate Currency Commitment for such currency, (ii) at no time shall the Aggregate Multicurrency Outstanding Credit Exposure exceed the Aggregate Multicurrency Commitments, (iii) at no time shall the aggregate outstanding principal amount of the Alternate Currency Loans for any specific Alternate Currency exceed the amount specified as the maximum amount for such Alternate Currency in the applicable Alternate Currency Addendum and (iv) at no time shall the aggregate Alternate Currency Commitments exceed $100,000,000. The Dollar Amount of any Alternate Currency Commitment of an Alternate Currency Lender shall be deemed to utilize such Lender’s Multicurrency Commitment. Each Alternate Currency Loan shall consist of Alternate Currency Loans made by each applicable Alternate Currency Lender ratably in proportion to such Alternate Currency Lender’s respective Alternate Currency Share. Subject to the terms of this Agreement and the applicable Alternate Currency Addendum, the Borrowers may borrow, repay and reborrow Alternate Currency Loans at any time prior to the Facility Termination Date. On the Facility Termination Date, the outstanding principal balance of the Alternate Currency Loans shall be paid in full by the applicable Borrower and prior to the Facility Termination Date prepayments of the Alternate Currency Loans shall be made by the applicable Borrower if and to the extent required by this Agreement. Subject to the applicable Alternate Currency Addendum, each Alternate Currency Loa...
Alternate Currency Loans. (a) If any Borrower requests a Borrowing in an Alternate Currency, or if pursuant to any Continuation/Conversion Notice a Borrower elects to continue any LIBO Rate Loan denominated in an Alternate Currency, the Revolving Loan Administrative Agent shall in the notice given to the Revolving Loan Lenders pursuant to Section 2.3 or Section 2.4, as the case may be, give details of such request or election including, without limitation, as the case may be, the aggregate principal amount of the Borrowing in such Alternate Currency to be made by each Lender pursuant to the terms of this Agreement or the aggregate principal amount of such LIBO Rate Loans to be continued by each Lender pursuant to the terms of this Agreement.
(b) Each Lender shall be treated as having confirmed that the Alternate Currency requested, or elected by the applicable Borrower to be continued, is Available to it unless no later than 9:00 a.m. on the same Business Day of the requested Borrowing or the proposed continuation it shall have notified the Revolving Loan Administrative Agent that such Alternate Currency is not Available.
(c) In the event that the Revolving Loan Administrative Agent has received notification from any of the Lenders that the Alternate Currency requested or elected by the applicable Borrower to be continued is not Available, then the Revolving Loan Administrative Agent shall notify such Borrower and the Lenders no later than 10:00 a.m. on the same Business Day of the proposed Borrowing or proposed continuation.
(d) If the Revolving Loan Administrative Agent notifies a Borrower pursuant to clause (c) above that any of the Lenders has notified the Revolving Loan Administrative Agent that the Alternate Currency requested or elected by such Borrower to be continued or converted is not Available, such notification shall (i) in the case of any Borrowing Request, revoke such Borrowing Request and (ii) in the case of any Continuation/Conversion Notice, such continuation/conversion with respect thereto shall be deemed withdrawn and such Alternate Currency Loans shall be redenominated into Base Rate Loans. The Revolving Loan Administrative Agent will promptly notify the Borrowers and the Lenders of any such redenomination and in such notice by the Revolving Loan Administrative Agent to each Lender the Revolving Loan Administrative Agent will state the aggregate Dollar Equivalent amount of the redenominated Alternate Currency Loans as of the Revaluation Date with respect theret...
Alternate Currency Loans. Each borrowing, conversion and prepayment of principal of Loans denominated in an Alternate Currency (other than Canadian Dollars) shall be in an aggregate principal amount which is an integral multiple of 100,000 units of the relevant Alternate Currency and equal to or greater than an amount the Dollar Equivalent of which is $1,000,000; provided that (i) any Loan may be in the aggregate amount of the unused portion of the relevant Commitments and (ii) Loans may be prepaid in full. Each borrowing, conversion and prepayment of Loans denominated in Canadian Dollars shall be in a minimum aggregate face amount of C$1,000,000 or a whole multiple of C$100,000 in excess thereof; provided that (i) any Loan may be in the aggregate amount of the unused portion of the relevant Commitments and (ii) Loans may be prepaid in full.
Alternate Currency Loans. Any Alternate Currency Loan shall bear interest at the applicable Eurocurrency Rate plus the Applicable Margin on a per annum basis. Each Alternate Currency Loan bearing interest based on the Eurocurrency Rate shall be a “Eurocurrency Loan.”
Alternate Currency Loans. Borrowers shall pay interest on the unpaid principal amount of each Revolving Loan that is an Alternate Currency Loan outstanding from time to time, fixed in advance on the first day of the Interest Period applicable thereto through the last day of the Interest Period applicable thereto, at the Derived Alternate Currency Rate. Interest on such Alternate Currency Loan shall be payable on each Interest Adjustment Date with respect to an Interest Period (provided that if an Interest Period shall exceed three months, the interest must be paid every three months, commencing three months from the beginning of such Interest Period).
Alternate Currency Loans. Alternate Currency Loans shall be made at Agent's sole discretion and, notwithstanding the provisions of paragraph (a) above, (i) Borrower and Agent may establish an alternative procedure in the United Kingdom for the requesting and making of Domestic Sterling Loans and (ii) Agent shall not be obligated to accept Borrower's request for (A) a Domestic Sterling Loan at any time that the U.K. Subsidiaries shall have the right to request an advance under the U.K. Credit Agreement or (B) a Domestic Canadian Loan at any time that the Canadian Subsidiaries shall have the right to request an advance under the
Alternate Currency Loans. (a) This Addendum (as the same may be amended, waived, modified or restated from time to time) is an "Alternate Currency Addendum" as defined in the Credit Agreement and is, together with the borrowings made hereunder, subject in all respects to the terms and provisions of the Credit Agreement except to the extent that the terms and provisions of the Credit Agreement are modified by this Addendum. The Swing Line Lender party to this Addendum are set forth on Schedule I.
Alternate Currency Loans. 50 2.22 Judgment Currency.....................................52 2.23
Alternate Currency Loans. (A) Upon the satisfaction of the conditions precedent set forth in Article V hereof and set forth in the applicable Alternate Currency Addendum, from and including the later of the date of this Agreement and the date of execution of the applicable Alternate Currency Addendum and prior to Termination Date (unless an earlier termination date shall be specified in or pursuant to the applicable Alternate Currency Addendum), the Alternate Currency Bank agrees, on the terms and conditions set forth in this Agreement and in the applicable Alternate Currency Addendum,
Alternate Currency Loans. Subject to the terms and conditions hereof, during the period from the Effective Date to but excluding the Termination Date, the Alternate Currency Lender agrees to make Alternate Currency Loans in the Alternate Currency to the Borrower in an aggregate principal amount at any one time outstanding up to, but not exceeding, the amount of the Alternate Currency Commitment. Subject to the terms and conditions of this Agreement, the Borrower may borrow, repay and reborrow Alternate Currency Loans hereunder. The Alternate Currency Loans shall, in addition to this Agreement, be evidenced by the Alternate Currency Note.
